Morningstar (MORN) EV to FCF (2009 - 2026)
Morningstar's (MORN) EV to FCF came in at 13.24 for Q3 2026, down 42.7% from 23.13 a year earlier but up 23.6% from the prior quarter.
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Analysis
Morningstar (MORN) EV to FCF (2009 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, EV to FCF at Morningstar was 10.03, down 47.0% year-over-year; for FY2025, it came in at 18.32, down 40.8% from FY2024.
- In prior years, Morningstar's EV to FCF was 30.93 in FY2024 (-48.5%), 60.02 in FY2023 (+15.0%), 52.21 in FY2022 (+27.9%) and 40.81 in FY2021 (+32.6%).
- Quarterly EV to FCF has run from a low of 10.71 in Q2 2026 to a high of 64.45 in Q2 2023 over five years.
- On a year-over-year basis, EV to FCF has declined in each of the last five quarters, with an average decline of 38.9% over the last eight quarters.
- The strongest year-over-year quarter for EV to FCF in the past five years was Q2 2023, with growth of 50.7%; the weakest was Q2 2026, with a decline of 67.1%.
- According to Business Quant data, EV to FCF for the three prior quarters was 10.71 (Q2 2026), 13.48 (Q1 2026) and 18.32 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Msci | 236.00 Bn | 234.48 Bn | 739.80 Mn |
| 2 | S&P Global | 137.30 Bn | 132.50 Bn | 2.64 Bn |
| 3 | Moodys | 87.63 Bn | 80.69 Bn | 1.50 Bn |
| 4 | Verisk Analytics | 26.66 Bn | 22.85 Bn | 567.00 Mn |
| 5 | Equifax | 22.03 Bn | 21.43 Bn | 940.10 Mn |
| 6 | TransUnion | 15.46 Bn | 12.30 Bn | - |
| 7 | Factset Research Systems | 11.73 Bn | 10.58 Bn | 308.40 Mn |
| 8 | Morningstar | 9.14 Bn | 7.03 Bn | 431.40 Mn |
| 9 | Mastercard | 572.29 Bn | 532.37 Bn | - |
| 10 | Cme | 113.65 Bn | 101.99 Bn | 359.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.24 |
| Jun 30, 2026 | 10.71 |
| Mar 31, 2026 | 13.48 |
| Dec 31, 2025 | 18.32 |
| Sep 30, 2025 | 23.13 |
| Jun 30, 2025 | 32.58 |
| Mar 31, 2025 | 27.19 |
| Dec 31, 2024 | 30.93 |
| Sep 30, 2024 | 29.47 |
| Jun 30, 2024 | 31.41 |
| Mar 31, 2024 | 48.58 |
| Dec 31, 2023 | 60.02 |
| Sep 30, 2023 | 61.43 |
| Jun 30, 2023 | 64.45 |
| Mar 31, 2023 | 49.51 |
| Dec 31, 2022 | 52.21 |
| Sep 30, 2022 | 41.68 |
| Jun 30, 2022 | 42.75 |
| Mar 31, 2022 | 36.87 |
| Dec 31, 2021 | 40.81 |
API Access
Morningstar EV to FCF API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "ticker": "MORN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-fcf&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();